The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada U.S. Low Volatility Index (the Index). It invests primarily in equity securities of large and mid-capitalization U.S. companies with lower volatility than the broader U.S. equity market. The Index is designed to reflect the performance of large- and mid-capitalization U.S. companies with lower volatility than the broader U.S. equitymarket.